Question

Out of each 100 products, 93 are ready for purchase by customers. If you selected 20 products, what would be the expected (mean) number that would be ready for purchase by customers?

a. 93
b. 19
c. 18
d. 20

Answer 1

The expected number of products that would be ready for purchase by customers, out of a selection of 20 products, is 19.

Step-by-step explanation:

To find the expected number of products that would be ready for purchase by customers, we can use the formula for expected value:

Expected Value = (Probability of an event) × (Number of occurrences of the event)

In this case, the probability of a product being ready for purchase by customers is 93/100 = 0.93. The number of occurrences of the event (selecting 20 products) is 20. Therefore, the expected number of products that would be ready for purchase by customers is:

Expected Value = 0.93 × 20 = 18.6

Since we cannot have a fractional number of products, we round the expected value to the nearest whole number. Therefore, the expected number of products that would be ready for purchase by customers is 19 (option b).